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V0rclaw

CDC spread is bad because we are using the app not the exchange in America. If we had the exchange it wouldn’t be as bad


randomdimised

Doesn't matter if an exchange is available or not. In Australia you must convert AUD to USDC which is 4.99% spread to trade on the exchange. Or buy crypto in the app which has a lower spread of 3.90% and then move onto exchange to trade. However you will be bitten either way. I believe its intentional why they're delaying exchange for US as much as possible then everyone will actually realise there are hidden fees built into the spread.


iGhost1337

they are not delaying anything. its the US government, they are just cautious so they dont get fucked like binance.


VeganMortgageAdviser

I don't think they're delaying the exchange. They'll make more money from the whales in USA than Billy who is putting in $400.


Invalesco_POE

What’s stopping you from converting AUD to USD via an external broker with favourable forex rates and then depositing USD into the exchange?


Haunting-Ad-1279

Binance Australia used to have a lowest spread , until they lost their banking partner


shpeucher

I don’t think the spread is that high for USDC? I remember checking and it seemed like only 1% for me CAD-USDC which better than our big banks here


avadreams

It is that high. I've raised it before but people told me I was just dealing with foreign exchange rates, it's not. There is a huge spread on stable coins and AUD.


Thisisthewaymaybe

Correct. AUD users are getting fleeced but our CAD to usdc spread whilst not almost zero as it was before the depegging happened, still better than 4% they need to add fiat rails to their exchange in Canada and available countries. It's a good exchange but whether by design or careful negotiation and preparation at the jurisdictions they want to operate; it's expensive to trade in the CDC app. These days in mostly use them for custody and not much else.


purzeldiplumms

Does the app have a seperate market with another order book? I think it's more a CAD vs USD problem. It's different order books obviously


Intercellar

Holy moly still no US exchange. It was imminent 2 years ago lol. I guess a lot of legal issues


frck81

Is this also the reason that ETH is always 1% higher on the app compared to all other exchanges? Current difference is 40$. This has been going on for months at least. Why are they not fixing that?


whatsuppaa

never do market orders, always place "limit price" -orders.


lucas63

Except the limit prices don’t hit either. Their “live” price is not the price they will execute at.


Satchel987

I waited all day for a limit order but it never sold, even though the price graph was well above it multiple times. Can't rely on them for accurate or timely trades at all. Switch to another exchange and quick!


hl2oli

Kraken seems to work with buy orders not sure with sell orders but they always seem reliable


rambumriott

Even then..


greenappletree

have u been able to do sell order limit order for moons? I been having cryptic error messages for this. Its annoying.


International-Bid618

This right here, is the key. For coinbase one users, you can do limit buy, and itll place through advance which will lock you in at market value, but since you placed it on coinbase actual 0 fees+spread


RectalSpawn

They take a piece, even if you can't see it.


Western_Management

This should be the highest rated comment. If you do a market sell, you just sell for what’s in the order book at that time. If you set your price, you will get that as soon as there’s a buyer. It might take a little longer, but you don’t have to worry about loss of funds.


escrow_term

I feel the app is ok but expensive, the exchange is fine. I wouldn’t do a market sell on either. In fact, I never do market sells.


chainer3000

Gotta hold it in your wallet, swap it to uscd, send to and then sell on an exchange with no fee/low fee for uscd, then cash out from exchange. I’ve gotten basically no fees with this method, basically just in swap slippage which is negligible.


AgedPeanuts

You don't even need to swap anything to USDC because that has a spread on the app. You can use the Exchange directly, bank deposit USD/EUR and buy with those pairs and then withdraw to your bank. 0 spread. Taker/Maker fee: 0.075%


chainer3000

Any swap I’m doing using metamask/phantom raydium/uniswap is super negligible, unless things are going crazy then maybe need 1% slippage, but that’s great to know! I prefer to only on-ramp and off-ramp on CEX whenever possible. Sometimes send to CEX just to do a free chain swap


ThatHussey

So move it from crypto.com to metamask if I’m gonna sell anything basically?


GeorgeBabyFaceNelson

Any recommendations on a wallet and exchange to use that has low fees and is easy to buy/sell from?


laroseuk

If I have a bunch of stuff on the app, can I get it to the exchange and sell it there without the spread?


chainer3000

I don’t understand what you’re asking. You hold the coins in metamask/phantom, use the swap feature or uniswap/raydium, swap to a stable coin on-chain that your exchange supports for low/no fee, send from your wallet to exchange wallet, and cash out from there. Don’t sell or swap your meme coins on an exchange, you’ll lose big on their spread + fees, that’s how they make their money


laroseuk

I don’t hold anything in MetaMask, they’re on CDC (well some anyway, the rest is on the ledger). If my coins are on the CDC app, how do I get them to the CDC exchange without falling victim to the spread on the app?


chainer3000

I’ve used their app as well and I don’t understand because if you’ve got money on their app it’s already on their exchange already. You eat the spread and fee when you sell or swap while on cdc. If I have 100 WIF on their app, I can sell it when it’s 3$ each but will only get 2.90 for each one because of the spread. Or I can send it to my hot wallet on phantom, swap it for almost nothing to let’s say usdc, then send to Coinbase to go from usdc to cash for zero fee.


laroseuk

Ah I think we’re getting our wires crossed. I’ve read elsewhere that CDC have a separate exchange where there is no spread (think equivalent of Coinbase Pro or Binance Pro), but I didn’t know how to move my stuff from the standard CDC app to the exchange app without incurring their spread


chainer3000

Just sending your coins to any wallet won’t incur a spread whatsoever. So if they have a separate wallet app you use normally like you would phantom, metamask, or Coinbase pro, you should swap to stable coin there (whoever you get only on-chain fee/slippage)


laroseuk

Okay I see, so if I send the coins to the CDC exchange, sell for stablecoin, then bring that back to the app to sell for fiat, I should reduce the spread I’m subject to theoretically as long as CDC’s spread for the stable coin doesn’t take the piss like it does with some other coins


Proffit91

The app and the exchange are two separate things.


Trebel-

noob question. doesn’t this make your taxes hell?


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danteselv

Every trade needs to be reported in the US doesn't matter if you made money or not. Those transactions in your wallet aren't immune. Your coinbase report wouldn't show an accurate PnL doing what you just described. It would show you printed usdc out of thin air. Side note we use exchanges to avoid on chain fees which I don't see you mentioning that it can be much higher than spread on a market order depending on the block chain.


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MaineHippo83

No. Any swap or trade anywhere is supposed to be reported. A transfer doesn't have to be reported by the fee does. It's considered a sale


danteselv

Your information is outdated. When it becomes something other than USDC that is a sale. If you profited after that and swapped to something else that is also required. Transferring USDC back and forth would not give an accurate report of your transactions. You'd have to include wallet data for an accurate PnL. As for KYC well its not really that difficult to narrow down since there are so many 3rd parties collecting info on your wallet. The wallet you're using is still storing data specific to you. Its still an App at the end of the day. As things become more regulated they'll hire more people who understand that blockchain is not private. This is not for privacy. Using your method could be creating a shitstorm depending on the amount of money you're dealing with.


RandomedXY

What is the statue of limitations on the tax evasion in US? You understand that in a few years they can have this process automated.


Citizen_Kano

Doesn't CDC have the same spread for swaps as it does for sales? I haven't used them in three years but that's how I remember it


chainer3000

I’m not swapping using cdc, I’m swapping using my phantom/metamask wallet with raydium/uniswap, then sending to an exchange as their supported stable coin to off-ramp. I’m saying don’t swap using an exchange, only use them as an on and off ramp for whatever stable coin they support, do all your trades off CEX for meme coins


Citizen_Kano

Yeah ok, but that doesn't help OP get his non-stable coins off CDC


Alimakakos

Coins with lower trading volume, regularity, and high volatility are more likely to have a higher spread...also selling/buying larger quantities makes a difference. PEPE seems to hit all those negatives... But yeah spread on CDC, Coinbase and major companies marketing to beginner retail buyers are going to make money on trades. No it's not stealing/scamming, they're even telling you/showing you the spread and price you're being guaranteed ahead of the sale...


International-Bid618

I just think if you hit buy, and the price says 68,239, and then at the checkout it says 69,576 I would say thats a hidden fee. Spread is a fee imo. Would feel better if they just charged the spread as a fee rather than brag about 0 trading fees but still hitting us with spread.


Alimakakos

I get what you mean, but there's a basic issue with any trade that there likely isn't a match perfect for the opposite trade, ex. You buy 1 BTC but nobody else at that moment is selling whole BTC so either the exchange just covers themselves because someone sells .2 BTC at 68,239 and then .4 at 69,011 and then .1 at 70,000 and then .1 at 69,476 and voila you're avg price is higher than the listed price. But I think it's fair to say they at least show you the higher price before you submit so you have the opportunity to acknowledge that before you buy, if you want a lower price buy smaller amounts, at different times of day, or in a less volatile coin...outside of that spread is a spread and it's not going anywhere for CEXs


International-Bid618

Yea, I just decided to dip out of CNC and I use wallet dexs.


theonepercent65536

CDC is the antithesis of what should be valued in a cryptocurrency. For that fact alone I am 110% confident it will hit $20 billion market cap this year.


diegun81

I should buy an iPhone then.


nameless3k

Can't wait see 100 upvotes on a "I just got enough cro for diamond rewards" this bull run


Simple_Mastodon9220

They gotta keep the lights on at Staples Center somehow..


Zelulose

I mean their coins have fees so spread will have to be wide. ShimmerSea spreads are competitive with most major exchanges despite being a layer zero bridged DEX. Kelb swap has lower fees. Nanoswap has lower swap fees. I think we have enough options that people should be informed so they don't lose a bunch of money swapping on expensive networks.


IamOkei

Somebody gonna pay for that free iPhones cashback


decadentview

Use limit sells not market !!


IamOkei

Use the exchange... don't be a sucker


HSuke

Yes, it's well known they have large spreads. That $700M arena ad isn't going to pay for itself. This is a company that dangled amazing debit card rewards for those who locked into staking and then rug pulled those rewards while their holders watched as CRO dropped 90% while they couldn't pull out.


Alimakakos

Yeah those poor bastards, I bet they wish they had used FTX instead...


michaelinimoto

Cdc price is higher so the selling price looks like a big gap but it's not


BHTAelitepwn

Gonna play devils advocate here and say that, while the spread you mention is ridiculous, there are certainly ways to get around that in most cases (exchange app, coins with higher volumes/more liquidity) Apart from that, the CDC app itself can be used to participate in many promos including rewards+ that lets you increase cashback rewards. With negligible spreads, users would be able to reach crazy high rewards making it too profitable. And yes, too profitable for users is a bad thing because it either forces a company to revise their promises (as we saw earlier), downscale and/or go bankrupt. You want a company to have some fat on the bones, unlike we saw with FTX. yeah they absolutely rugpulled customers earlier when CRO was trading close to a dollar. Their spread can be horrible, but its a financially sound company (at least there is no reason to doubt that as of now, correct me if im wrong). I personally like it, and never paid much on fees either. Recently i purchased 4k worth of CRO for 800$ worth of free Apple gear, and in total I paid $15 worth of spread, which in the process unlocked 0.5% card cashback for me, which in turn equates to $4 on cashback from that $800 free apple gear. When you all add it together its not too bad.


Dazzling_Marzipan474

Ya it wasn't too bad like a year or so ago. I bought a tiny bit of a token on there and when I went to sell it this year it charged me like 6%. I have a tiny bit of cro there and I'll sell it soon. Then I'll delete that app


michaelinimoto

Just send coins from cdc app to binance or uniswap etc.... no spread


Dazzling_Marzipan474

Ya I did with my others. It's like $30 in cro so I won't even bother. Thanks though.


freedom_fighting321

I've argued with them multiple times. And pepe is 10% on the buy and 10% on the sell, that's 20%. Not all listed are that bad, but it does suck! Ohh, and they said my value never cleared my investment on Pepe because there was a liquidity problem. I should have cleared their 10% on the sell plus 7 usd and could only get -8 usd no matter how high it went! I can screenshot the convo


chapaeme

It was nearly .09 spread in my last sales


Calibased

Biggest crock of shit “exchange” for us users. Coinbase is #1 hands down.


EnviroPlanner

I've been a cardholder for two years now and I Still have to use a Wise card to transfer NZD to app/exchange to reduce charge fees. AUS has been able to direct debit from local banks for like 12 months now I think? Sort it out CDC, it's partly why I'm not as active as I used to be in the space.


gchil

Spread fuck me trading alts on bitmex, I leave that cex after that


_pondering_insomniac

CDC is such a scammy app. Scam you with the spread and then scam you gambling on up downs


_Commando_

People still use Scam CDC?


laroseuk

Yea I need to get off this app right now, it’s actually disgustingly bad


dknwz

Use the exchange.


randomdimised

You need to change your currency to USDC to use the exchange, which has a 4.99% fee for AUD/USDC.


kai_luni

Any recommendations for Pepe then? I want to exchange it from Pepe to Ethereum and the spread or what you call it is close to 10%.


spicolispizza

If you're in Canada, try netcoins, you might have better luck although it is still higher than some other exchanges like kraken or MEXC I trust netcoins a bit more because they're a Canadian company that's publicity traded. You also have the option to hold CAD$ in your account and just spend it on their prepaid MasterCard to earn 1% back in BTC, that's how I typically spend a lot of my DeFi staking and LP rewards


nyr00nyg

Always has been


DuckSashimi

I have a similar problem. I know I can transfer my ETH and BTC to the exchange to sell, but I also have a bunch of BNB. When I try to transfer the BNB to the exchange, it tells me that BNB is not supported. So how do I sell my BNB without paying ridiculous spread?


bradenlikestoreddit

Is there a spread for stable coins on CEXs? For instance if I wanted to sell my SOL or Matic on-chain for USDC and send to. Coinbase, would I get 1:1 outside of gas fees for the transaction?


halversonjw

This is why I want to drop crypto and just buy the BTC ETF... Why is that a bad idea? I'm considering doing that to avoid these dumb spreads


JohnnyTinnitusQB

Crypto.com is trash, stop using them.


LeiaCaldarian

Use the exchange.


Character-Dot-4078

I used the cronos bridge to move 50 bucks worth of tokens like a year ago and they wouldnt move it or give me the keys my wallet so i could move it myself, so i stopped using that exchange.


wylie2020

Dont ever use market sell....


enprezzo

I enjoy using the exchange in the EU. Deposits/withdrawals are free of charge, and the maker/taker is 0.075%, lower than Binance’s 0.1%. The app is a huge no no though, I would look for something else if you don’t have access to the exchange.


Easy_Grapefruit5936

What’s the best exchange to use?


Blooberino

CDC is a last resort for me. In the US you get a trading fee, then get nailed with a gigantic spread.


cyborgrva

Yes it is, just look at how they handle covid. It was a disaster!!


JaggaJazz

Spread is pretty bad elsewhere too, last night I was trading ETH for the first time in 2 years and the spread alone made me opt out pretty quickly for the time being (I bought a top though which was my own fault)


Crypto-Expansion

Does it also goes for the conversion from Crypto to Fiat while topping up the card?


Fakir333

Always has been on the app


FallenOne2334

I never use it anyways and just use there app for little faucets and stuff.


slipperynibs

Lol i stopped using CDC after i sold my LUNC at market and lost 3000$ out 9000$ and wouldnt allow me to sell at limit for anything outside of -30% loss off the top even while it was still going up so it wasnt a POF issue.


OkSystem3281

Use the exchange its awesome. Hopefully coming to the US soon...


Tasty-Satisfaction64

Dump it and buy moons pepe is maxed out


okahui55

They had years to fix this, they're deliberately doing it because they know their customers either won't or can't find a better exchange. Literally nothing has gone well for me depositing with them. Look at the appalling performance of Cro vs practically a same token, BNB


jeffrycr

CDC spread is a scam, I stopped using it months ago.


laroseuk

How did you get it out of CDC without losing a bunch of money to the spread? It’s actually a joke and I’m worried


Hayaguaenelvaso

You go to the browser version of Crypto.com which is actually quite solid. Transfer is free


tclark2006

Gotta move out of America first.


HeadMembership

Use the Exchange. The app is for boomers.


hiddenplantain

USA excluded which sucks


IamOkei

Because SEC makes it difficult for companies outside US to setup exchanges for retail investors


iphonesoccer420

What is the exchange?


HeadMembership

https://crypto.com/exchange Has a separate app and a web portal, it's the pro trading side. 


iphonesoccer420

So I can do everything there as the regular app but less fees? I’m still kinda confused


HeadMembership

No fees. It's a market. The spread is the market spread. Go look around.  You link your exchange app with the normal app, and move assets between them.  Google it


GastedEnigma

Not if you're in America.


ValorousAnt

Yup. I remember bumping into this 3 years ago. Looks like scam still going strong :P


SonnyJackson27

1. Stop using market sell 2. Stop using apps instead of exchanges. Complaints solved.


randomdimised

You need to change your currency to USDC to use the exchange which is 4.99% fee for AUD/USDC.


AsbestosDude

CDC is trash man just stop using it


EffectiveConcern

Nothing is worse than their bitcoin withdrawal fee. Maybe they adjusted it, but was like 30$ or something, rip


Emotional_Tea_7205

I agree with you, [crypto.com](http://crypto.com) is not the best place to trade on spot, as they have high spreads and not clear info about that


International-Bid618

Remember buying jup when it was at 45 cents for 56 cents due to spread, and trying to get out at 1.80 and was offered 1.55 to sell. This over the course of 550 jup. 0 fees but they managed to cheat me out of almost 200$ then I tried cashing out, sorry, 50$ has been pending for 12 business days so you cant withdraw the last 50. Ok cool, withdrew the rest, after 15 business days it finally processed, cool ill withdrawl it, sorry no minimum withdrawl is 100$ ok I guess ill transfer it to another walllet, nope thats not supported. So march 1st i added 50$ to meet the 100$ minimum and guess what… its still pending as of march 20th. Needless to say im doing most of my trading on wallets/dexes now.


_BannedAcctSpeedrun_

Yeah I sold my Bricks the other day and even though I had like $1200-ish as the fiat amount it showed me, I could only sell them all for like $900. Pretty bullshit, and I guess I could’ve tried harder to find better ways to cash out but honestly I was just happy that I got free money from posting on a fkn fortnite sub for a couple years when I used to be into it. Also shoutout to Reddit for letting me access an account that got banned almost 2 years ago and still letting me pull up my seed phrase so I could pull them out. Same with moons but I only had a few hundred.


Obscureodyssey

Dude I lost $1,000 of value without realizing how bad the spread was on a sale of Arkham.


rambumriott

Always has been. R/CRO is convinced they’re running the world though


Proffit91

Exchange or defi.


perceptron-addict

Use atomic wallet lol


maxxwil

Yeah I got bad vibes from crypto.com last bull run and pulled out entirely recommend the same


bluepand4

And then when I try to set a target price it doesnt let me enter the price in my currency? Only lets me set the target price in another crypto currency? Very intuitive and easy /s


noodlesteakrice0331

SKAMMMMMMING CRIS CEO


smoothfreeze

*CZ enters the chat*


Xylber

US exchages are only good for americans, so you can have all your taxes in order. Otherwise, you have much better options elsewhere. BTW, Crypto is not the one that scammed people with the crypto coin? With Matt Damon saying "Fortune favors the brave"? Can't believe people still use it.


IamOkei

Fortune still favours the Brave


smoothfreeze

How did Matt scammed people?


Xylber

Not Matt, Crypto... In October 28th 2021 Matt Damon promoted this exchange, and the currency CRO (Crypto premined coin) increased its price from 0.20 to 0.90 dollars. Then Crypto sold their own PREMINED coin dropping its price to 0.50 (currently at 0.15).


soyelvorph

Exchange for Christ sake!


Grunblau

Some people live in the land of freedom and aren’t allowed to use the exchange.


michaelinimoto

The price starts higher and the sell price is right where it should be op. Your wrong.


Apprehensive_Try7137

Don’t use market sell. Period.


threwlifeawaylol

> I always knew the spreads were terrible, but there's a difference of 10% on **Pepe and other meme coins** Please, for the love of god, purchase a brain.


Nielscorn

There’s nothing wrong with using market orders. You just have to check the order book and see if there’s enough liquidity around your position to fill your order within % you are ok with. On binance for example, a lot of the times you won’t move the needle by any considerable amount (unless doing it with large amounts of coins/money)


surpriseheekkie

I feel u buddy, at first i didnt realise. till i lost over a thousand $. this app is a damn scam, built for people who want easy access. a waste of my $ trading in this dumb app.